2022 Valid 1Z0-1059-21 Exam Updates - 2022 Study Guide
1Z0-1059-21 Certification - The Ultimate Guide [Updated 2022]
NEW QUESTION 19
Given your organization's Interactions with one of Its customers:
A consultant is deployed to assist customer on 10-Sep-2017.
A Sales order is booked on 14-Sep-2017.
The Product is shipped on 15-Sep-2017.
An Invoice is issued on 20-Sep-2017.
When do you accrue the contract liability?
- A. when the consultant is deployed to assist customer on 10-Sep-2017
- B. when the product is shipped on 15-Sep-2017
- C. when an invoice is issued on 20-Sep-2017
- D. when the sales order Is booked on 14-Sep-2017
Answer: A
NEW QUESTION 20
A pricing dimension segment value combination is one of the factors to determine standalone selling prices. This combination is based on the pricing dimension assignment setup.
What does the pricing dimension assignment match the pricing dimension segment combination to?
- A. a pricing dimension structure
- B. a pricing dimension structure instance
- C. the source document types
- D. pricing bands
Answer: D
NEW QUESTION 21
You define a Contract Identification Rule that uses the following source document attributes to match transaction lines:
Bill-to Customer Party Identifier
Extensible Header Character Attribute 4
Based the data displayed:
How many contracts will be created In Revenue Management?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: C
NEW QUESTION 22
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
- A. Oracle Subledger Accounting
- B. Oracle General Ledger
- C. Oracle Revenue Management Cloud
- D. Oracle Receivables
Answer: A,C
NEW QUESTION 23
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
- A. Unearned Revenue
- B. your invoiced goods and services less those goods and services that you have not yet delivered
- C. your debt to customers for goods and services you are obliged to deliver to them by either party acting
- D. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered
Answer: C
NEW QUESTION 24
A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?
- A. Create revenue prices in the Euro currency.
- B. Create source document types specifically for Euro documents.
- C. Populate Conversion Rate Type in System Options.
- D. Populate exchange rates in Revenue Price Profile.
Answer: C
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM2371348
NEW QUESTION 25
Which is NOT a Price Band Type?
- A. Percentage Band
- B. Set Band
- C. Quantity Band
- D. Amount Band
Answer: A
NEW QUESTION 26
Oracle Revenue Management is part of_____________________predefined offering.
- A. Financials
- B. Fusion Accounting Hub
- C. Incentive Compensation
- D. Enterprise Contracts
Answer: A
NEW QUESTION 27
Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?
- A. when a pricing dimension structure is enabled for pricing bands
- B. when a source document type is enabled to use pricing bands
- C. when a value set segment label of Set Band is used
- D. when a pricing dimension structure Instance Is enabled for pricing bands
Answer: A
NEW QUESTION 28
After defining a pricing dimension structure for a customer, you must define a pricing dimension structure instance.
Which two attributes on the structure instance are inherited from the structure definition?
- A. whether Dynamic Combination Creation Allowed is enabled
- B. the Displayed option
- C. the Query Required option
- D. the value sets
- E. the shape: Same number of segments and order
Answer: A,E
NEW QUESTION 29
What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?
- A. Create a reporting ledger.
- B. Create a new primary ledger.
- C. Create a secondary ledger.
- D. Using their existing primary ledger.
Answer: D
NEW QUESTION 30
What is a contract modification?
- A. a change to the contract caused by negotiation with the customer
- B. a change (modification) to the contract data
- C. a revision or correction to the estimate of variable consideration made at inception
- D. an increase or decrease in expected collectability
Answer: A
NEW QUESTION 31
Which, when transferred to a customer, allows you to recognize revenue?
- A. promise detail
- B. a performance obligation
- C. an invoice
- D. a shipment
Answer: B
NEW QUESTION 32
Your customer ships machines, and can recognize revenue for each machine after the machine has been delivered to a customer without waiting for complete satisfaction of an entire performance obligation. How would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for these performance obligations at a point in time?
- A. by setting SM to "Allow Partial" and SMM to "Period"
- B. by setting SM to "Requires Complete" and SMM to "Period"
- C. by setting SM to "Allow Partial" and SMM to "Quantity"
- D. by setting SM to "Requires Complete" and SMM to "Quantity"
- E. by setting SM to "Requires Complete" and SMM to "Percent"
Answer: B
NEW QUESTION 33
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How should you configure Revenue management to ensure that these items are grouped into one performance obligation?
- A. By defining a Standalone Selling Price Profile.
- B. By defining a Revenue Item Group
- C. By defining a Performance Obligation Template.
- D. By defining a Contact Identification Rule.
Answer: B
NEW QUESTION 34
One way to upload customer contract data from a source system is through File Based Data Import (FBDI) using a spreadsheet template provided by Revenue Management.
What is the name of this spreadsheet template?
- A. Customer Sales Source Data Import
- B. Customer Contract Source Documents Import
- C. Customer Contract Source Data Import
- D. Customer Sales Data Source Documents Import
Answer: C
NEW QUESTION 35
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?
- A. You value the accrual at estimated consideration and it is a monetary debt.
- B. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
- C. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
- D. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.
- E. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
Answer: D
NEW QUESTION 36
Which setup Is required to enable integration between Order Management and Revenue Management?
- A. Add Order Management in the Manage Trading Community Source Systems page.
- B. Define an Implied performance obligation template to create performance obligations associated to sales orders and return material authorizations.
- C. Create custom program to extract sales order and fulfillment data from Order Management.
- D. Configure settings In the Order Management section of the Manage Integrations for Revenue Management page.
- E. Assign Extraction Start Date for source document type DOO Sales Order in the Manage System Options for Revenue Management page.
- F. Define a source document type for the Order Management application and set satisfaction measurement model to quantity.
Answer: F
NEW QUESTION 37
What does the creation of an allocation allow you to determine?
- A. the maximum amount of revenue you can recognize soonest, postponing the minimum until later
- B. an allocation of the expected consideration over the performance obligations as if you had sold them separately
- C. the ability not to revise previously reported revenue for revision, corrections, and other changes
- D. the fair value of each performance obligation
Answer: D
NEW QUESTION 38
Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?
- A. If nonexistent, these accounts need to be added to the chart of accounts.
- B. These accounts are optional in Revenue Management.
- C. These accounts are not relevant to Revenue Management.
- D. If nonexistent, these accounts are added automatically to the chart of accounts.
Answer: D
NEW QUESTION 39
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